PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1088315
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1088315
Saudi Arabia Used Cars Market, By Market Structure, By Car Type, By Brand, By Type of Sourcing, By Age of Vehicle, By Kilometers Driven, By Region, Industry Trends & Forecast Report 2028
Saudi Arabia Used Cars Market to Grow at a Steady rate during 2022-2028
Saudi Arabia Used Cars Market is growing at a steady rate because of the growing internet penetration, rising interest in affordable used cars along with the growing online sales platforms to make the buying process easy and quick…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that Saudi Arabia Used Cars Market is estimated to grow at a CAGR of 5.2% by the end of 2028. The lucrative growth of Saudi Arabia Used Cars Market is attributed to the growing adoption of used cars for performing daily activities and traveling long distances for adventure as well as relaxation purposes. Affordable prices and quality are increasing the preference of consumers toward used cars, which aids to fuel the growth of Saudi Arabia Used Car Market during the forecast period. Furthermore, Saudi Arabia Used Cars Market is one of the most emerging markets that grow continuously owing to the fast integration of new technologies like the Internet of Things (IoT), artificial intelligence (AI), cloud computing, and others. Also, the facilities and discounts on online sales platforms are surging the demand for used cars in the country. However, the rising cost of diesel, and petrol, as well as the high vehicle insurance rate is the major restraining factor for the growth of the Saudi Arabia Used Cars Market.
Based on car type, Saudi Arabia Used Cars Market is categorized into Hatchback, Sedan, SUVs, Pick-ups and Luxury, and Others. The luxury segment dominates the market. The average age of luxury used vehicles coming into the market is between 1-2 years. Also, luxury cars are fun to drive and comfortable. But their cost is very high which is not affordable. So, many consumers prefer to buy luxury used cars for their convenience. This drives the growth of Saudi Arabia Used Cars Market during the forecast period (2022-2028). Moreover, various brands like Toyota, Hyundai, GMC & Chevrolet, Ford, and Other used cars are available in Saudi Arabia.
Based on the type of sourcing, Saudi Arabia Used Cars Market is categorized into Car-Rental/Leasing Companies (including Auctions), Buy-Sell/Park-Sell, Imports, and Trade-Ins. The car-rental/leasing companies dominate the market share owing to the increasing demand by corporate sectors such as logistics, construction, and the oil and gas sector. Also, the increasing transportation of equipment and employee mobility. All these factors drive the market growth. The sudden outbreak of COVID-19 minimally impacted the growth of Saudi Arabia Used Cars Market. Initially, the sales declined due to the job losses among ex-pats, closure of malls, shops, businesses, and restricted international travel. However, the weak financial conditions and increased preferences for traveling by own cars to avoid the spreading of coronavirus reinforce the used cars market. Also, the shortage of new cars during the pandemic surged the demand for used cars in the country. All these factors support the growth of Saudi Arabia Used Cars Market during the forecast period (2022-2028).
The leading market players in Saudi Arabia Used Cars Market are Abdul Latif Jameel Motors, Aljomaih Automotive Company Ltd., Al Jazirah Vehicles Agencies Co., Universal Motors Agencies Ltd., Mohamed Yousuf Naghi Motors Co., United Motors Company, Gulf Advantage Automobiles LLC, Haraj, Motory, Syarah, SaudiSale, and other prominent players. The market is highly competitive and fragmented with the presence of various global and regional industry participants. The companies constantly launch new products with advanced features to gain a competitive edge over the market. Multinational corporations also invest in expanding their production capacities to meet the growing demand and boost their market penetration. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics on Saudi Arabia Used Cars Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Used Cars Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
- 2.2. Quantitative Research
- 2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
- 2.4. Breakdown of Primary Research Respondents, By Region
- 2.5. Assumption & Limitation
3. Executive Summary
4. Saudi Arabia Used Car Market Insights
- 4.1. Industry Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
- 4.3. Technological Landscape/Recent Development
- 4.4. Regulatory Framework
- 4.5. Porter's Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry
5. Saudi Arabia Used Car Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.1.2. By Volume (Thousand Units)
- 5.2. Market Share & Forecast
- 5.2.1. By Market Structure
- 5.2.1.1. Organized
- 5.2.1.2. Unorganized
- 5.2.2. By Car Type
- 5.2.2.1. Hatchback
- 5.2.2.2. Sedan
- 5.2.2.3. SUVs
- 5.2.2.4. Pick-ups and Luxury
- 5.2.2.5. Others
- 5.2.3. By Brand
- 5.2.3.1. Toyota
- 5.2.3.2. Hyundai
- 5.2.3.3. GMC & Chevrolet
- 5.2.3.4. Ford
- 5.2.3.5. Others
- 5.2.4. By Type of Sourcing
- 5.2.4.1. Car-Rental/Leasing Companies (including Auctions)
- 5.2.4.2. Buy-Sell/Park-Sell
- 5.2.4.3. Imports
- 5.2.4.4. Trade-Ins
- 5.2.5. By Age of Vehicle
- 5.2.5.1. Less than 1 year
- 5.2.5.2. 1-3 years
- 5.2.5.3. 3-5 years
- 5.2.5.4. More than 5 years
- 5.2.6. By Kilometers Driven
- 5.2.6.1. Less than 50,000 Km
- 5.2.6.2. 50,000-80,000 Km
- 5.2.6.3. 80,000-120,000 Km
- 5.2.6.4. More than 120,000 Km
- 5.2.7. By Region
- 5.2.7.1. Northern and Central
- 5.2.7.2. Southern
- 5.2.7.3. Eastern
- 5.2.7.4. Western
- 5.2.1. By Market Structure
6. Competitive Landscape
- 6.1. List of Key Players and their Offerings
- 6.2. Market Share Analysis, 2021
- 6.3. Competitive Benchmarking, By Operating Parameters
- 6.4. Key Strategic Development (Merger, Acquisition, Partnership.)
7. Impact of COVID-19 on Saudi Arabia Used Car Industry
8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
- 8.1. Abdul Latif Jameel Motors
- 8.2. Aljomaih Automotive Company Ltd.
- 8.3. Al Jazirah Vehicles Agencies Co.
- 8.4. Universal Motors Agencies Ltd.
- 8.5. Mohamed Yousuf Naghi Motors Co.
- 8.6. United Motors Company
- 8.7. Gulf Advantage Automobiles LLC
- 8.8. Haraj
- 8.9. Motory
- 8.10. Syarah
- 8.11. SaudiSale
- 8.12. Other prominent players.
9. Key Strategic Recommendations
List of Figures
- Figure 1: Saudi Arabia Used Cars Market Segmentation
- Figure 2: Saudi Arabia Used Cars Industry Value Chain Analysis
- Figure 3: Saudi Arabia Used Cars Market Size, By Value (USD Million), 2018-2028
- Figure 4: Saudi Arabia Used Cars Market Size, By Volume (Thousand Units), 2018-2028
- Figure 5: Saudi Arabia Used Cars Market Share (%), By Market Structure, By Value, 2018-2028
- Figure 6: Saudi Arabia Used Cars Market Share (%), By Market Structure, By Volume, 2018-2028
- Figure 7: Saudi Arabia Used Cars Market Share (%), By Car Type, By Value, 2018-2028
- Figure 8: Saudi Arabia Used Cars Market Share (%), By Car Type, By Volume, 2018-2028
- Figure 9: Saudi Arabia Used Cars Market Share (%), By Brand, By Value, 2018-2028
- Figure 10: Saudi Arabia Used Cars Market Share (%), By Brand, By Volume, 2018-2028
- Figure 11: Saudi Arabia Used Cars Market Share (%), By Type of Sourcing, By Value, 2018-2028
- Figure 12: Saudi Arabia Used Cars Market Share (%), By Type of Sourcing, By Volume, 2018-2028
- Figure 13: Saudi Arabia Used Cars Market Share (%), By Age of Vehicle, By Value, 2018-2028
- Figure 14: Saudi Arabia Used Cars Market Share (%), By Age of Vehicle, By Volume, 2018-2028
- Figure 15: Saudi Arabia Used Cars Market Share (%), By Kilometers Driven, By Value, 2018-2028
- Figure 16: Saudi Arabia Used Cars Market Share (%), By Kilometers Driven, By Volume, 2018-2028
- Figure 17: Saudi Arabia Used Cars Market Share (%), By Region, By Value, 2018-2028
- Figure 18: Saudi Arabia Used Cars Market Share (%), By Region, By Volume, 2018-2028
List of Tables
- Table 1: Saudi Arabia Used Cars Market Size, By Market Structure, By Value (USD Million), 2018-2028
- Table 2: Saudi Arabia Used Cars Market Size, By Market Structure, By Volume (Thousand Units), 2018-2028
- Table 3: Saudi Arabia Used Cars Market Size, By Car Type, By Value (USD Million), 2018-2028
- Table 4: Saudi Arabia Used Cars Market Size, By Car Type, By Volume (Thousand Units), 2018-2028
- Table 5: Saudi Arabia Used Cars Market Size, By Brand, By Value (USD Million), 2018-2028
- Table 6: Saudi Arabia Used Cars Market Size, By Type of Sourcing, By Value (USD Million), 2018-2028
- Table 7: Saudi Arabia Used Cars Market Size, By Type of Sourcing, By Volume (Thousand Units), 2018-2028
- Table 8: Saudi Arabia Used Cars Market Size, By Age of Vehicle, By Value (USD Million), 2018-2028
- Table 9: Saudi Arabia Used Cars Market Size, By Age of Vehicle, By Volume (Thousand Units), 2018-2028
- Table 10: Saudi Arabia Used Cars Market Size, By Kilometers Driven, By Value (USD Million), 2018-2028
- Table 11: Saudi Arabia Used Cars Market Size, By Kilometers Driven, By Volume (Thousand Units), 2018-2028
- Table 12: Saudi Arabia Used Cars Market Size. By Region, By Value (USD Million), 2018-2028
- Table 13: Saudi Arabia Used Cars Market Size. By Region, By Volume (Thousand Units), 2018-2028
- Table 14 Abdul Latif Jameel Motors Company Overview
- Table 15 Abdul Latif Jameel Motors Financial Overview
- Table 16 Aljomaih Automotive Company Ltd. Company Overview
- Table 17 Aljomaih Automotive Company Ltd. Financial Overview
- Table 18 Universal Motors Agencies Ltd. Company Overview
- Table 19 Universal Motors Agencies Ltd. Financial Overview
- Table 20 Mohamed Yousuf Naghi Motors Co. Company Overview
- Table 21 Mohamed Yousuf Naghi Motors Co. Financial Overview
- Table 22 Gulf Advantage Automobiles LLC Company Overview
- Table 23 Gulf Advantage Automobiles LLC Financial Overview
- Table 24 Motory Company Overview
- Table 25 Motory Financial Overview
- Table 26 Syarah Company Overview
- Table 27 Syarah Financial Overview
- Table 28 SaudiSale Company Overview
- Table 29 SaudiSale Financial Overview
